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all the tax cuts including the tax cuts for the wealthy expire on january 1. so that is sort of a short term advantage. these programs, medicare, social security are incredibly popular. cutting them is unpopular. republicans' basic agenda is to cut them. some want to cut them or reform them for totally good reasons that costs are rising over time and as the population ages they take up more and more of the economy and more government spending. they are at a strategic disadvantage which is they want to cut programs that are incredib incredibly popular. anytime you are set against the consensus of public opinion it is a difficult course. you have to acknowledge that reality. as long as obama and democrats have that they will have the leverage as we repeat the negotiations in the decades to come. >> thank you for joining me. stick around we will be speaking with you two later this hour. >>> coming up the republican who is not afraid to stand up to his own party joins us live. what does he make of the sudden turn in the fiscal talks? is there still time to hammer
all the tax cuts including the tax cuts for the wealthy expire on january 1. so that is sort of a short term advantage. these programs, medicare, social security are incredibly popular. cutting them is unpopular. republicans' basic agenda is to cut them. some want to cut them or reform them for totally good reasons that costs are rising over time and as the population ages they take up more and more of the economy and more government spending. they are at a strategic disadvantage which is they...
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Jan 1, 2013
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members of both political parties who badly want these middle class taxes rolled back fa fast, "what the senate did this morning makes it easier for house republicans to follow suit. it was a rare bipartisan vote, 89-8. two hours after america went off the fiscal cliff, vice president biden came to the capitol to sell the fix he worked out with gop leader mitch mcconnell to spoke for senate republicans. >> we don't think taxes should be going up on anyone. but we all knew if we did nothing, they'd be going up on everyone. >> reporter: the senate voted to reverse today's tax hikes on 98% of americans. but to keep the higher rate on families making over $450,000, president obama took credit for breaking 20 years of gop opposition to tax hikes. >> keep in mind that just last month, republicans in congress said they would never agree to raise tax rates on the wealthiewealthi est americans. >> middle class families will wake up today to the assurance their taxes won't go up $2,200 each. >> reporter: not so fast. house speaker john boehner and his gop lawmakers might not go along. boehner
members of both political parties who badly want these middle class taxes rolled back fa fast, "what the senate did this morning makes it easier for house republicans to follow suit. it was a rare bipartisan vote, 89-8. two hours after america went off the fiscal cliff, vice president biden came to the capitol to sell the fix he worked out with gop leader mitch mcconnell to spoke for senate republicans. >> we don't think taxes should be going up on anyone. but we all knew if we did...
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Dec 28, 2012
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automatic tax cuts and smaller paychecks hang in the balance. american military hero, four-star general known as stormin' norman schwarzkopf has died. >>> a fiscal milk cliff is looming. bears over the bruins in the holiday bowl. >>> good morning, even as the finger pointing continues on capitol hill this morning, new hope on a deal to avoid that fiscal cliff. president obama will be meeting with congressional leaders later today. danielle leigh joins us. >> that meeting in many ways a last opportunity for the president and congressional leaders to reach a deal and get something done before this year is over. if this meeting is unsuccessful it could seal this country's fate, as some developments yesterday. house members no longer on stand by. ready to come back sunday. to take a vote. when these tax cuts expire just about every worker is going to see their paycheck reduced. it's going to eliminate unemployment extensions and initiate spending cuts across the board. >> how will people see this in their paychecks and in their taxes? >> workers wil
automatic tax cuts and smaller paychecks hang in the balance. american military hero, four-star general known as stormin' norman schwarzkopf has died. >>> a fiscal milk cliff is looming. bears over the bruins in the holiday bowl. >>> good morning, even as the finger pointing continues on capitol hill this morning, new hope on a deal to avoid that fiscal cliff. president obama will be meeting with congressional leaders later today. danielle leigh joins us. >> that meeting...
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Jan 1, 2013
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again, the problem here is not that anyone wants to raise taxes. this notion that republicans make this argument the democrats are just out there eager to raise taxes on everyone. that is just fantasy. the reality here is we have a fiscal problem. we have a debt and deficit problem. you have to have increased revenues. you cannot solve this -- >> you also have to cut spending though, chris. >> you cannot cut spend ago loan. >> republicans say you have to do both of them. you have to cut spending, and you also if you want to raise revenues, if we give someone on the revenue side, we've got to also look at the cutting spending, and that's kind of the give and take between republicans and democrats. >> but i agree with you, you have to cut spending. tell me the republican that's out there talking about cutting defense spending, which is the largest chunk of our budget when you are talking about, you know, separating social security, medicare, and medicaid. nobody wants to talk about defense spending cuts. this is the problem that we have. we have to b
again, the problem here is not that anyone wants to raise taxes. this notion that republicans make this argument the democrats are just out there eager to raise taxes on everyone. that is just fantasy. the reality here is we have a fiscal problem. we have a debt and deficit problem. you have to have increased revenues. you cannot solve this -- >> you also have to cut spending though, chris. >> you cannot cut spend ago loan. >> republicans say you have to do both of them. you...
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Dec 26, 2012
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. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating for some and president obama left them $200 billion apart. >> the president was $200 billion higher on revenues and speaker boehner, $200 billion higher on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decisions ahead, six days left. >> lawmakers will likely take on spending reform and tax cuts when the debate heats up. >> looks like they will be working over the new year. >>> a note was left by a suspected shooter that killed two firefighters christmas eve in new york. more details on the person already convicted of murder. >> reporter: police say the christmas eve ambush of
. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating...
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Dec 25, 2012
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i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to remember now, we're just a few days away. >> if no deal is reached over 2 million americans will lose their jobless benefits and workers will see a 2% cut in take home pay as social security payroll taxes go up january 1st. jennifer johnson, nbc news, washington. >> well, around this time of year, there is a big surprise that happens on the rockefeller center ice skating rink outside our news world headquarters. it happens about half a dozen times a day every day. erica hill has the story. >> right outside our doors at rockefeller center, home to the christmas
i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to...
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Dec 26, 2012
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. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new year when the debt ceiling debate heats up. richard, back to you. >> looks like they will be working over the new year. thanks for your time. >>> a n
. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole...
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i think the payroll tax was so for the making tax credit. so when that wasn't renewed that was the best option. i think the payroll tax cut is the best option. i feel like i'm one note on this but to go back to what i said earlier. ultimately, what will keep social security sustainable is the rate of growth in the economy. and i had to trade a couple more years of reduced revenue for social security for more growth, i think more growth is the right trade to make. i'm worried -- a lot of worrying about if we keep the payroll tax low or we lose money for social security over the long term? probably, but i think it's offset by the additional growth you get from just having lower unemployment and faster gdp growth and the whole nine yards. >> one thing that the way they have deviced the payroll tax holiday, they say technically speaking they're not taking money from social security. they're replacing it with money from the general budget. so you never actually have, a gap. but the concern is that that ends up lumping together social security, wh
i think the payroll tax was so for the making tax credit. so when that wasn't renewed that was the best option. i think the payroll tax cut is the best option. i feel like i'm one note on this but to go back to what i said earlier. ultimately, what will keep social security sustainable is the rate of growth in the economy. and i had to trade a couple more years of reduced revenue for social security for more growth, i think more growth is the right trade to make. i'm worried -- a lot of...
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Dec 29, 2012
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and the estate tax. it goes on. it goes on. it goes on. why, david jackson, haven't people started screaming from the streets and screaming from the rooftops about what this mean, this is a manufactured crisis. >> well, they haven't felt it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal you'll see more public outrage about it. >> david naka, mura, calling for an up or down vote if the senate can't come up with it. he's talking about 250,000, at one point 400,000. is it realistic to think that the president can win this thing on an up or down vote? >> if they actually go to an up and down vote there will be a lot of pressure on those who were against a temporary fix with this to make their case known and actually go on the record. that's why the question is would the republican senators who would oppose
and the estate tax. it goes on. it goes on. it goes on. why, david jackson, haven't people started screaming from the streets and screaming from the rooftops about what this mean, this is a manufactured crisis. >> well, they haven't felt it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal...
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going over the cliff, tax rates go up for everybody and then a vote, a vote to cut taxes for 98% of americans. instead of a vote to raise taxes for 1% of americans and it makes much more likely to get republican support. they can make it retroactive to january 1st, fix a lot of things that are going to go haywire if we go past january 1st without a deal, thomas. >> mike, great to see you. thank you, sir. >>> want to bring in the political power panel for this wednesday morning, lynn sweet, keith boykin and alice stewart. great to see all of you here. post-merry christmas to everybody. i want to start by showing the latest gallup information on what americans are feeling right now, gang. about the fears of the fiscal cliff. deal likely at 50%, deal not likely at 48%. and this is gone down continually as we have seen, lynn, over several days, whether more optimism before the christmas holiday and continues to evaporate the closer to the cliff but talking about what the president can do coming back, can it about a small stop gap measure to save people after the 1st? >> it could be and i've alway
going over the cliff, tax rates go up for everybody and then a vote, a vote to cut taxes for 98% of americans. instead of a vote to raise taxes for 1% of americans and it makes much more likely to get republican support. they can make it retroactive to january 1st, fix a lot of things that are going to go haywire if we go past january 1st without a deal, thomas. >> mike, great to see you. thank you, sir. >>> want to bring in the political power panel for this wednesday morning,...
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the payroll tax holiday. maybe you don't give the whole amount, just part of it. it adds up to $200 billion so the economy continues to grow. then the debt reduction is raised by february. >> mr. davis. he started his comment about solving this saying you have to take the politics out of it. it's not possible at this point. even though the deal, everything you heard from him, you may have agreed with and go along with it. how are you going to take the politics out of it with the clock ticking? >> if you don't get an agreement, it's going to hurt both parties. somebody may have the advantage today and tomorrow in the news headlines, if this doesn't happen, it hurts the president's legacy, it hardens the lines between them. this is not, as joe said, complicated to solve over the short term. long term, a little more complicated. if they can't get through this, it makes it much more difficult over the long term. >> to both of you here, you heard something the president said. david gregory pushed back on the presi
the payroll tax holiday. maybe you don't give the whole amount, just part of it. it adds up to $200 billion so the economy continues to grow. then the debt reduction is raised by february. >> mr. davis. he started his comment about solving this saying you have to take the politics out of it. it's not possible at this point. even though the deal, everything you heard from him, you may have agreed with and go along with it. how are you going to take the politics out of it with the clock...
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no taxes? no deals, no compromises. no nothing. period. this is the wall that those of the tea party have raised up. they can't vote for what they campaigned against, spending money on government. and that's "hardball" for now. thanks for being with us. "politics nation" with al sharpton starts right now. >> tonight, in new york city, welcome to "politics nation" second annual revvie awards. it's the best and the worst in politics, 2012. look, all the big stars are on the red carpet. donald trump is in the unreality show category. paul ryan's pumped and ready to go. what's with the hat there? >> and what's an awards show without this guy. he survived a really rough year and he's looking just great tonight. the evening is about to get started. so take a seat before clint eastwood yells at it. sit back and enjoy the show. without further adieu, ladies and gentlemen, please welcome your master of ceremonies and the host of "politics nation," the reverend al sharpton. >> good evening. and welcome to "the revvie awards." i'm al sharpton and the
no taxes? no deals, no compromises. no nothing. period. this is the wall that those of the tea party have raised up. they can't vote for what they campaigned against, spending money on government. and that's "hardball" for now. thanks for being with us. "politics nation" with al sharpton starts right now. >> tonight, in new york city, welcome to "politics nation" second annual revvie awards. it's the best and the worst in politics, 2012. look, all the big...
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Jan 1, 2013
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half of it's paid for by new taxes. at a minimum you'll see an amendment that says if we're not going to do sequester which was the down payment on the debt ceiling it should be with real spending cuts. >> we're getting indications from the senate they would not even look at an amended bill. mitch mcconnell, joe biden they were here until the early hours of this morning on new year's day. what happens if that -- are we going off the fiscal cliff? >> well, you know, i don't know. that'll be a decision for the senate. but quite frankly, the senate had in its power for over six months to do what they did at the stroke of midnight last night and that is amend a house bill and send it back to us. i think it's a little unreasonable for senator reid to say that something that they produced on new year's eve produced by a bunch of sleep deprived people is what we should adopt within 40 hours. >> cantor obviously you said is against the bill as it stands. boehner reserved judgment, did not say public opinion. boehner can't go ov
half of it's paid for by new taxes. at a minimum you'll see an amendment that says if we're not going to do sequester which was the down payment on the debt ceiling it should be with real spending cuts. >> we're getting indications from the senate they would not even look at an amended bill. mitch mcconnell, joe biden they were here until the early hours of this morning on new year's day. what happens if that -- are we going off the fiscal cliff? >> well, you know, i don't know....
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taxes are an issue there. i think the election of francois alaund and his rate on the top end as well as some of the other things he's doing in france, lowering the retirement age, this is sort of a litmus test in some ways and it's important. maybe richard can tell me i need to learn more about the british tax code. icons on the edge. a number of names you know at home, jcpenney, best buy stock has been hammered, the maker of the blackberry, once iconic, now struggling. >> they're gone. >> they're not gone. >> last one. congratulations. >> they're struggling, and i think it's the end of an era for some companies. the $25 billion bank settlement, a huge deal. some people said it was not enough. whatever your thoughts are, it was a big story. facebook, you remember them? they have come back in the last six weeks. everyone thought this was an ipo that was going to soar. >> who manages that company? >> mark zuckerberg. that guy right there. >> poorly, i would submit. >> he built it, so who are we to judge, right?
taxes are an issue there. i think the election of francois alaund and his rate on the top end as well as some of the other things he's doing in france, lowering the retirement age, this is sort of a litmus test in some ways and it's important. maybe richard can tell me i need to learn more about the british tax code. icons on the edge. a number of names you know at home, jcpenney, best buy stock has been hammered, the maker of the blackberry, once iconic, now struggling. >> they're gone....
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. >>> senate leaders are working tonight on a last-minute compromise to avoid a combination of tax increases and spending cuts known as the fiscal cliff. >>> george h.w. bush has been moved out of the intensive care unit of a houston hospital as his condition improves. >>> and a winter storm is hitting the northeast with an expected 8 inches of snowfall expected to hit new england. >>> tyler, texas, march 22nd, 2006. a state trooper's viciously shot on a dark highway, and it's caught on his dashboard camera. >> get in the car! get in the car! >> the incident begins when steve stone with the texas department of public safety catches a pickup truck speeding. it takes a bit longer than usual for the driver to pull over. >> he didn't want to stop for me. you can hear me in the video saying he didn't want to stop for me. it's just something i took note of but it was nothing that would cause me to be on alert immediately. >> his dashboard camera begins recording a bone-chilling incident that the highway patrolman still can't believe he survived. >> and i thought, you ain't going to make it through
. >>> senate leaders are working tonight on a last-minute compromise to avoid a combination of tax increases and spending cuts known as the fiscal cliff. >>> george h.w. bush has been moved out of the intensive care unit of a houston hospital as his condition improves. >>> and a winter storm is hitting the northeast with an expected 8 inches of snowfall expected to hit new england. >>> tyler, texas, march 22nd, 2006. a state trooper's viciously shot on a dark...
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. >> tax reform, immigration reform, gun safety reform. three big things by the summer of next year. >> i think scott brown will run for senate again to fill john kerry's open seat and he will lose again. >> i think we're going to
. >> tax reform, immigration reform, gun safety reform. three big things by the summer of next year. >> i think scott brown will run for senate again to fill john kerry's open seat and he will lose again. >> i think we're going to